The Indian government confirmed that diesel fuel prices will remain unchanged despite rising global oil prices. This announcement came as oil prices approached $120 per barrel.
As of early Tuesday, the Press Information Bureau stated there would be no changes to petrol and diesel rates in India. The government has not issued any orders for price hikes.
UAE motorists may also face stable fuel prices for May. The Strait of Hormuz, which carries about 20% of the global oil supply, has seen disruptions due to geopolitical tensions.
Iran continues to export crude oil despite restrictions, affecting market trends. The situation remains fluid, with officials monitoring developments closely.
Key statements from officials:
- The Press Information Bureau labeled circulating claims of imminent fuel price hikes as fake.
- Sujata Sharma emphasized that petrol and diesel prices will remain unchanged for now.
- The government assured complete supply for domestic LPG and PNG consumers.
However, uncertainties linger regarding the future impact of global oil market surges on local fuel prices. No signs of a breakthrough have emerged in US-Iran diplomatic relations, which could affect crude supply further.
